Abe's comments keep yen in bullish shape

London

THE US dollar hovered near a 17-month low against the yen on Wednesday after taking a fresh knock overnight on comments by Japan's prime minister that suggested Tokyo was cautious about reining in the yen's rise.

Expectations that minutes of its last meeting will show some US Federal Reserve officials more in favour of raising interest rates than chair Janet Yellen helped the US dollar gain around a third of a cent against the euro.